Autumn Statement 2022: "Government is making it harder and harder for those who work for themselves"

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IPSE (the Association of Independent Professionals and the Self-Employed) has warned that the government’s decision to slash the dividend allowance at the Autumn Statement will be a further blow to the UK’s smallest businesses.

IPSE pointed out that a key group affected by the measure would be freelancers working through limited companies, who were excluded from support during the pandemic, will soon be hit by the increase in corporation tax, have only recently seen tax on their dividends increase and who are plagued by the highly damaging changes to the IR35 rules.

Andy Chamberlain, Director of Policy at IPSE (the Association of Independent Professionals and the Self-Employed), said: “After the financial damage of the pandemic, exclusion from support, the changes to IR35 taxation, the recent tax hike on dividends and the impending corporation tax hike, this latest attack is further salt in the wound for anyone working through their own company.

“The government is making it harder and harder for those who work for themselves. Of course we need to raise tax to pay for vital public services, but time and again it seems our very smallest businesses are the first targets. We’ve already seen the number of self-employed fall dramatically since the pandemic – the government seems intent on reducing that number further. By slashing the dividend allowance, the government has once again demonstrated that it does not support small business.”

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